Summary
- E2W: Overall high-speed electric two-wheeler (HS E2Ws) sales in India decreased by 38% m-o-m in December 2024, reaching 73,356 units. The top 3 players in the industry accounted for approximately 67% of the total registrations in December 2024. Furthermore, in CY2024, the E2W segment showed a 30% increase compared to CY2023.
- E3W- Passenger: The sales of registered passenger E3Ws in December 2024 stood at 51,475 units, reflecting a m-o-m decrease of ~8%. In CY2024, E3W passenger sales increased by 15% compared to CY2023. The top 10 players in the electric three-wheeler (E3W) passenger market collectively captured a 41.6% market share. Among them, Mahindra Last Mile Mobility led with a 9.8% share, followed by Bajaj Auto with 7.5% share for this month.
- E3W- Cargo: The sales of registered cargo-type E3Ws in December 2024 stood at 7,955 units, reflecting a m-o-m increase of ~4% in this segment. In CY2024, the E3W cargo segment experienced an increase of ~45% compared to CY2023. The cumulative sales of the top 10 electric three-wheeler players in the cargo segment captured 39.31% of the entire E3W cargo market in December 2024. Mahindra Last Mile Mobility claimed the top position with a 5.78% share, followed by Bajaj Auto, which secured a 4.63% share for the month.
- E-Cars: The total sales of E-cars in December 2024 stood at 8,781 units, witnessing a m-o-m increase of ~2%. E-car sales rose in CY2024 and saw a ~6.9% increase compared to CY2023. This month, Tata Motors maintained its dominance in the E-Car market, securing a 46% market share.
- E-Buses: In December 2024, total E-bus sales amounted to 181 units, marking a m-o-m increase of ~8%. In CY2024, total E-Bus sales marked a 39% increase compared to CY2023. Olectra Greentech led the market with a 28.73% share, followed by Tata Motors with 16.57% in Dec 2024.